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COLLECTIVE BARGAINING: The negotiation process between a union and the company that employs the union's members -- usually going by the moniker of management. The purpose of collective bargaining is to find mutual agreement on wages, fringe benefits, workhours, promotion criteria, grievance procedures, and everything else that has to do with employment. The end result of this process is a collective bargaining agreement, which is a formal contract between management and the union. A negotiation process that breaks down without reaching an agreement might lead to a strike, lockout, or mediation.
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Lesson Contents
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Unit 1: Price Taker |
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Unit 2: Short-Run Output |
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Unit 3: Doing Graphs |
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Unit 4: Long-Run Equilibrium |
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Unit 5: Evaluation | |
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Perfect Competition
- The first unit of this lesson, Price Taker, begins this study with a look at the general structure of a perfectly competitive market.
- In the second unit, Short-Run Output, we take a look at the short-run production decision faced by a perfectly competitive firm based on the cost and revenue numbers.
- The third unit, Doing Graphs, then looks at the short-run production decision faced by a perfectly competitive firm using a graphical analysis of cost and revenue.
- In the fourth unit, Long-Run Equilibrium, we examine the nature of long-run adjustment by a perfectly competition industry when all inputs are variable.
- The fifth and final unit, Evaluation, then closes this lesson by considering the pros and cons of a perfectly competitive industry.
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LEGAL BUSINESS ORGANIZATIONS The alternative ways in which a business or firm can be legally organized. The three primary alternatives are proprietorship, partnership, and corporation. Differences among three are mainly based on: (1) number of owners and (2) the liability of the owners. A proprietorship has a single owner with unlimited liability. A partnerships has two or more ownership with unlimited liability. The owners of a corporation have limited liability.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex hoping to buy either a tall storage cabinet with five shelves and a secure lock or a birthday greeting card for your grandmother. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"It's usually the last ounce of effort that tips the scales of success." -- Rick Beneteau
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DTI
Department of Trade and Industry (UK)
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